Costa Rica News – Laundered money has long been a problem in Costa Rica.
It is also something that affects us all on an international level, as such money often gets in the wrong hands, such as terrorist groups.
Because of this Costa Rica has come up with a strategy for controlling laundered money which was presented at a meeting of the Financial Action Latin America, an event that saw representation from 20 countries.
Costa Rica is committed to working on all aspects necessary to end this issue.
It’s National Strategy for Combating Money Laundering and Terrorist Financing has a number of key aspects.
Prevention is emphasized in the financial sector with goals of reducing the use of cash as payment and improving control. Regulations are also needed in the exchange sector, ones that consider new technologies and risks.
Strengthening intelligence efforts, detection and penalties are also included in the plan.
